In May 2012, government removed import duty on pulp. The customs duty foregone on account of these imports is estimated to be about Rs 245 crore per annum, according to ASSOCHAM.
This will be the last regular budget ahead of the 2019 General Elections. However, there are few wishes that every tax payer would hope for from the Union Budget.
Former CBEC member said the sector can be brought under the GST as a deemed service.
This time the focus of the Rail Budget is on safety and passenger amenities so it was decided to extend the facility to all major urban and suburban stations.
In the given scenario, analysts say that the fiscal deficit could now rise to 3.5 per cent of the GDP and this slippage means that the expected target for the next fiscal – 3 per cent, will not be adhered to.
The outlay on healthcare increased by a healthy 28 per cent in the last budget and the allocation is likely to see a similar increase in the forthcoming budget as well, according to a report by rating agency Icra.
Catch the top highlights of Union Budget 2017-18, presented by Finance Minister Arun Jaitley in Parliament on February 1, 2017.
Union Budget 2018 will be fifth and last full-fledged budget by current BJP government. Finance Minister's budget this year will also be crucial politically as big states like Karnataka, Rajasthan Madhya Pradesh are going to polls soon.
Without giving details on the budget allocation for Railways, Goyal told reporters here that he is “satisfied with whatever has been proposed (in the budget)”.
Industry players are expecting rationalisation of the GST rates from the current 12 per cent to 6 per cent and bringing stamp duty under the ambit of GST.
Though analysts are opining that the government may relax the fiscal consolidation roadmap targets, Deutsche Bank says it may stick to curtailing the fiscal gap at 3 per cent.
The Narendra Modi government will present its last full budget on February 1 – the first after the implementation of the Goods and Services Tax (GST).
The Agriculture Ministry said in a statement here that it has held a quick deliberation on the growth rate for the sector to strategize on ensuring that 2017-18 sees a much higher growth rate.
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